Economy
Empire State Index Points to Flat November for NY Manufacturing
Written by Sandy Williams
November 15, 2016
Business activity stabilized in New York State according to the November 2016 Empire State Manufacturing Survey. The index rose eight points to a reading of 1.5, bringing the index out of contraction for the first time in four months but leaving manufacturing relatively flat for the month.
New orders and shipments picked up and indices were positive with readings of 3.1 and 8.5, respectively. The unfilled orders index dropped to -12.7 and delivery times shortened. Inventory levels dropped sharply as evidenced by an 11 point decline to -23.6 for a multi-year low.
The pace of growth for input and output prices slowed during the month.
The future outlook was less optimistic than October’s survey. The future business conditions index fell six points to 29.9. Orders and shipments were expected to decrease although employment levels and average workweek hours were expected to expand. New Yorkers are anticipating higher input and selling prices over the next six months. Modest increases were noted for future capital expenditures and technological spending.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.